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Best Web OpEds 6/8/2008 at 1:55 AM EDT

The Sub Prime Meltdown is but the Tip of the Iceberg

Quicklink Submitted By Cameron James No comments

Cameron James

...a far larger problem is now coming into focus. Sub-prime or high-risk Collateralized Mortgage Obligations, CMOs as they are called, are only the tip of a colossal iceberg of dodgy credits which are beginning to go sour. The next crisis is already beginning in the $62 TRILLION market for Credit Default Swaps. You never heard of them? It's time to take a look, then.

Read the rest of the story HERE:

At www.globalresearch.ca

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I have consciously decided to join the majority of Americans who have chosen not to vote. I refuse to participate in the lie that voting in the U.S. is participation in a democratic process. While the credibility of the U.S. political system is (more...)

Related Topic(s): Credit; Crisis; Crisis In Confidence; Meltdown; Sub-prime, Add Tags

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